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Author Question: What assumptions are made concerning wages and prices in a classical economic model? What will be ... (Read 108 times)

Charlie

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on: Jun 30, 2018
What assumptions are made concerning wages and prices in a classical economic model?
 
  What will be an ideal response?

Question 2

In the United States, calculation of gross domestic product is conducted by the ________.
 
  A) Council of Economic Advisors B) Bureau of Economic Analysis
  C) Census bureau D) Chief Financial Officer's Council
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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karlss

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Wages and prices adjust freely to changes in supply and demand.

Answer to Question 2

B


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